Federal Register / Vol. 88, No. 241 / Monday, December 18, 2023 / Notices 87423 

specified comment date. Protests may be 

considered, but intervention is 

necessary to become a party to the 

proceeding. 

The filings are accessible in the 

Commission’s eLibrary system (https://

elibrary.ferc.gov/idmws/search/

fercgensearch.asp) by querying the 

docket number. 

eFiling is encouraged. More detailed 

information relating to filing 

requirements, interventions, protests, 

service, and qualifying facilities filings 

can be found at: http://www.ferc.gov/ 

docs-filing/efiling/filing-req.pdf. For 

other information, call (866) 208–3676 

(toll free). For TTY, call (202) 502–8659. 

The Commission’s Office of Public 

Participation (OPP) supports meaningful 

public engagement and participation in 

Commission proceedings. OPP can help 

members of the public, including 

landowners, environmental justice 

communities, Tribal members and 

others, access publicly available 

information and navigate Commission 

processes. For public inquiries and 

assistance with making filings such as 

interventions, comments, or requests for 

rehearing, the public is encouraged to 

contact OPP at (202) 502–6595 or OPP@

ferc.gov. 

Dated: December 12, 2023. 

Kimberly D. Bose, 

Secretary. 

[FR Doc. 2023–27752 Filed 12–15–23; 8:45 am] 

BILLING CODE 6717–01–P 

ENVIRONMENTAL PROTECTION 

AGENCY 

[EPA–HQ–OPPT–2023–0601; FRL–11581– 

01–OCSPP] 

Initiation of Prioritization Under the 

Toxic Substances Control Act (TSCA); 

Request for Comment 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Notice. 

SUMMARY: The Environmental Protection 

Agency (EPA) is announcing the 

initiation of and soliciting public 

comment on the prioritization process 

for five chemical substances as 

candidates for designation as HighPriority Substances for risk evaluation 

under the Toxic Substances Control Act 

(TSCA) and related implementing 

regulations. This document provides the 

identity of the chemical substances 

being initiated for prioritization, a 

general explanation of why the Agency 

chose these chemical substances, and 

information on the data sources that 

EPA plans to use to support the 

designation. EPA is providing a 90-day 

comment period, during which 

interested persons may submit relevant 

information on these chemical 

substances. 

DATES: Comments must be received on 

or before March 18, 2024. 

ADDRESSES: Submit your comments 

through https://www.regulations.gov. 

Follow the online instructions for 

submitting comments. Submit 

comments on the chemicals identified 

in Unit III.B. to the applicable chemicalspecific docket ID number provided in 

Unit III.B. Submit comments on the 

chemicals identified in Unit IV.B. and 

comments not related to a specific 

chemical, including general comments 

on Unit IV.A., to Docket ID No. EPA– 

HQ–OPPT–2023–0601. Do not submit 

electronically any information you 

consider to be Confidential Business 

Information (CBI) or other information 

whose disclosure is restricted by statute. 

Additional instructions on commenting 

or visiting the docket, along with more 

information about dockets generally, is 

available at https://www.epa.gov/ 

dockets. 

FOR FURTHER INFORMATION CONTACT: 

For technical information contact: 

Sarah Au, Data Gathering and Analysis 

Division (7406M), Office of Pollution 

Prevention and Toxics, Environmental 

Protection Agency, 1200 Pennsylvania 

Ave. NW, Washington, DC 20460–0001; 

telephone number: (202) 564–0398; 

email address: au.sarah@epa.gov. 

For general information contact: The 

TSCA-Hotline, ABVI-Goodwill, 422 

South Clinton Ave., Rochester, NY 

14620; telephone number: (202) 554– 

1404; email address: TSCA-Hotline@

epa.gov. 

SUPPLEMENTARY INFORMATION: 

I. Executive Summary 

A. Does this action apply to me? 

This action is directed to the public 

in general and may be of interest to 

entities that currently or may 

manufacture (including import) a 

chemical substance regulated under 

TSCA (e.g., entities identified under 

North American Industrial 

Classification System (NAICS) codes 

325 and 324110). The action may also 

be of interest to chemical processors, 

distributors in commerce, users, nonprofit organizations in the 

environmental and public health 

sectors, state and local government 

agencies, and members of the public. 

Since other entities may also be 

interested, the Agency has not 

attempted to describe all the specific 

entities and corresponding NAICS codes 

for entities that may be interested in or 

affected by this action. 

B. What action is the Agency taking? 

EPA is initiating the prioritization 

process under the Toxic Substances 

Control Act (TSCA), 15 U.S.C. 2601 et 

seq., for five chemical substances as 

candidates for designation as HighPriority Substances for risk evaluation. 

This document includes the identity of 

the chemical substances entering the 

prioritization process before 

designation, and a general explanation 

of why the Agency choose to initiate 

prioritization on these chemical 

substances. In addition, EPA is 

providing a 90-day comment period 

during which interested persons may 

submit relevant information on these 

chemical substances. Relevant 

information might include, but is not 

limited to, any information that may 

inform the prioritization screening 

review conducted pursuant to 40 CFR 

702.9(a). 

C. Why is the Agency taking this action? 

TSCA section 6(b) requires that EPA 

initiate the prioritization process for 

chemical substances that may be 

designated as high priority and low 

priority for risk evaluation. In December 

2019, EPA designated 20 High-Priority 

Substances pursuant to TSCA section 

6(b)(2)(B), which are currently 

undergoing risk evaluation. Because 

EPA generally expects to complete five 

risk evaluations per year over the next 

several years, EPA is initiating the 

prioritization process for five chemical 

substances per TSCA section 6(b)(3)(C), 

which requires EPA to designate at least 

one High-Priority Substance upon 

completion of each risk evaluation for a 

High-Priority Substance. By initiating 

this group of High-Priority Substance 

candidates, EPA intends to begin 

building a sustainable pipeline of 

existing chemical risk evaluations under 

TSCA section 6(b). The request for 

interested persons to submit relevant 

information on a chemical substance for 

which EPA has initiated the 

prioritization process is required by 

TSCA section 6(b)(1)(C)(i). 

D. What is the Agency’s authority for 

taking this action? 

This document is issued pursuant to 

the authority in TSCA section 6(b)(1) 

and (3)(C). 

E. What are the estimated incremental 

impacts of this action? 

This document identifies the five 

chemical substances for which EPA is 

initiating the prioritization process, 

provides a general explanation of why 


khammond on DSKJM1Z7X2PROD with NOTICES
87424 Federal Register / Vol. 88, No. 241 / Monday, December 18, 2023 / Notices 

the Agency chose to initiate 

prioritization on these chemical 

substances, and provides a 90-day 

comment period for interested persons 

to submit relevant information. This 

document does not establish any 

requirements on persons or entities 

outside of the Agency. No incremental 

impacts are therefore anticipated, and 

consequently EPA did not estimate 

potential incremental impacts for this 

action. 

F. What should I consider as I prepare 

my comments for EPA? 

1. Submitting CBI 

Do not submit CBI to EPA through 

https://www.regulations.gov or email. If 

you wish to include CBI in your 

comment, please follow the applicable 

instructions at https://www.epa.gov/ 

dockets/commenting-epa-dockets#rules 

and clearly mark the part or all of the 

information that you claim to be CBI. In 

addition to one complete version of the 

comment that includes information 

claimed as CBI, a copy of the comment 

that does not contain the information 

claimed as CBI must be submitted for 

inclusion in the public docket. 

Information so marked will not be 

disclosed except in accordance with 

procedures set forth in 40 CFR part 2 

and/or 40 CFR part 703, as applicable. 

2. Tips for Preparing Your Comments 

When preparing and submitting your 

comments, see the commenting tips at 

https://www.epa.gov/dockets/ 

commenting-epa-dockets.html. 

II. Background 

TSCA section 6(b)(1) requires EPA to 

prioritize chemical substances for risk 

evaluation and to establish a process for 

prioritizing chemical substances. Under 

TSCA section 6(b) and as described in 

40 CFR 702.7, EPA is initiating the 

prioritization process for five chemical 

substances as candidates for HighPriority Substances for risk evaluation. 

Under TSCA section 6(b)(1)(B) and its 

implementing regulations (40 CFR 

702.3), a High-Priority Substance is 

defined as a chemical substance that 

EPA determines, without consideration 

of costs or other non-risk factors, that 

may present an unreasonable risk of 

injury to health or the environment 

because of a potential hazard and a 

potential route of exposure under the 

conditions of use, including an 

unreasonable risk to potentially exposed 

or susceptible subpopulations identified 

as relevant by EPA. 

Initiation of prioritization for 

chemical substances as High-Priority 

Substance candidates is not a finding of 

risk. Rather, when prioritization is 

complete, for those chemicals 

designated as high priority, the Agency 

will have evidence that this substance 

may present an unreasonable risk of 

injury to health or the environment 

because of a potential hazard and a 

potential route of exposure under the 

conditions of use. Final designation of 

a High-Priority Substance initiates the 

risk evaluation process (40 CFR 702.17), 

which culminates in a finding of 

whether or not the chemical substance 

presents an unreasonable risk under the 

conditions of use. 

This document is intended to fulfill 

the TSCA section 6(b)(1)(C)(i) 

requirement that the Administrator 

request interested persons to submit 

relevant information on chemical 

substances for which the Administrator 

has initiated the prioritization process. 

As described in 40 CFR 702.7, this 

document initiates the prioritization 

process and provides 90 days during 

which interested persons may submit 

relevant information. 

As described in 40 CFR 702.9(b) 

Information sources, in conducting the 

screening review during the 

prioritization process, EPA will 

consider sources of information relevant 

to the screening review criteria as 

outlined in the statute (TSCA section 

6(b)(1)(A)) and implementing 

regulations (40 CFR 702.9(a)) and 

consistent with the scientific standards 

of TSCA section 26(h), including, as 

appropriate, sources for hazard and 

exposure data listed in Appendices A 

and B of the TSCA Work Plan 

Chemicals: Methods Document 

(February 2012). 

Consistent with the approach in our A 

Working Approach for Identifying 

Potential Candidate Chemicals for 

Prioritization (September 27, 2018) and 

prioritization process (40 CFR 702.7), 

EPA consulted with other federal 

agencies and intends to continue to 

collaborate with them to identify 

information that is useful throughout 

the prioritization process. 

III. High Priority Candidate Chemical 

Substances for Which EPA Is Initiating 

Prioritization 

A. How did EPA select these candidates 

for prioritization for potential 

designation as High-Priority Substances 

for risk evaluation? 

In general, EPA’s working approach to 

select candidates for designation as 

High-Priority Substances for risk 

evaluation is outlined in the document, 

A Working Approach for Identifying 

Potential Candidate Chemicals for 

Prioritization, released to the public on 

September 27, 2018, available at https:// 

www.epa.gov/sites/production/files/ 

2018-09/documents/preprioritization_

white_paper_9272018.pdf. To identify 

candidates for designation as HighPriority Substances, the Agency 

primarily looked to the TSCA Work 

Plan for Chemical Assessments: 2014 

Update (2014 TSCA Work Plan), 

available at https://www.epa.gov/sites/ 

default/files/2015-01/documents/tsca_

work_plan_chemicals_2014_updatefinal.pdf. TSCA requires the Agency to 

preferentially consider chemicals on the 

2014 TSCA Work Plan, as these 

chemicals were selected due to their 

potential risk to human health and the 

environment. EPA also consulted with 

other EPA program offices and partner 

federal agencies to inform the Agency’s 

prioritization efforts. With these 

considerations, the chemicals for which 

prioritization is initiated in this notice 

were selected based on a variety of 

factors and reflect Agency priorities. 

While data availability was a significant 

driver of the Agency’s selections, EPA 

also considered the complexity of 

evaluating broad chemical categories 

such as metal compounds. In order for 

EPA to build a sustainable TSCA 

prioritization, evaluation, and (when 

appropriate) risk management pipeline, 

chemicals ultimately designated as 

High-Priority Substances for risk 

evaluation should have a robust data 

landscape. In future rounds of 

prioritization, EPA intends to use its 

data gathering authorities earlier and 

commits to regular stakeholder 

engagement to ensure that the Agency 

has the information it needs to meet its 

statutory mandates. 

Using data sources such as those 

described in the document, A Working 

Approach for Identifying Potential 

Candidate Chemicals for Prioritization, 

EPA considered various types of 

information and data from existing 

databases (and dashboards) such as 

EPA’s National Center for 

Computational Toxicology’s Chemistry 

Dashboard (CompTox Chemicals 

Dashboard), available at https://

comptox.epa.gov/dashboard. EPA also 

conducted initial searches of additional 

sources of information within the public 

and gray literature domains (e.g., 

searches in PubMed, Web of Science, 

other US government and international 

websites). 

Existing information from public and 

non-public (i.e., confidential business 

information) sources that are 

maintained by authoritative sources, 

such as other EPA program offices, state 

and federal agencies and various U.S. 

and international organizations are also 

considered (e.g., including but not 


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Federal Register / Vol. 88, No. 241 / Monday, December 18, 2023 / Notices 87425 

limited to EPA’s Office of Water, EPA’s 

Office of Air and Radiation, EPA’s 

Office of Research and Development, 

California Environmental Protection 

Agency (Cal EPA), National Toxicology 

Program (NTP), National Institute for 

Occupational Safety and Health 

(NIOSH), Agency for Toxic Substances 

and Disease Registry (ATSDR), 

International Agency for Research on 

Cancer (IARC), European Chemicals 

Agency (ECHA), Health Canada and 

Organisation for Economic Co-operation 

and Development (OECD)). 

After identifying evidence of 

information from reasonably available 

sources, the information was screened 

across several data elements including 

physical and chemical properties, 

environmental fate and transport 

properties, hazard, exposure, and use 

information to determine the breadth of 

data availability for a chemical 

substance. Using experience gained 

from TSCA implementation activities to 

date, EPA considered previous and 

planned Agency activities related to a 

given chemical substance, including 

how to better leverage experience 

gained from previously conducted or 

ongoing risk evaluations. EPA also 

considered whether analyses from 

existing risk assessments could be used 

to better understand the chemical 

substance’s potential exposure and/or 

hazard characteristics. 

In the absence of measured data on 

chemicals being evaluated, EPA may 

use alternative means or new approach 

methods (NAMs) to obtain relevant data. 

These NAMs can reduce vertebrate 

testing, consistent with TSCA section 

4(h)(1)(A). EPA intends to use this 

approach to the extent practicable and 

scientifically justified. 

To identify chemical substances, EPA 

considered information such as the data 

submitted to EPA in 2020 under the 

Chemical Data Reporting (CDR) rule 

under TSCA regarding reported uses 

and products as a surrogate for 

complexity of information to inform 

prioritization and risk evaluation. EPA 

considered the release and use 

information for these chemicals and 

screened them according to the types of 

industrial uses and types of products 

where the chemicals were used, as 

reported in the 2020 CDR. 

EPA intends to update and refine its 

initial review based on data sources 

identified by the public during the 

comment period (see EPA’s request for 

data in Unit IV.) and, where permitted 

by TSCA section 14 and subject to EPA 

confidentiality regulations at 40 CFR 

part 2, subpart B and 40 CFR part 703, 

intends to make this information 

publicly available for the initiated 

chemicals when we publish the 

proposed priority designation. 

B. What chemicals are being initiated? 

EPA is initiating the prioritization 

process for the following five chemicals 

as candidates for designation as HighPriority Substances: 

1. Acetaldehyde, CAS RN 75–07–0, 

Docket ID No.: EPA–HQ–OPPT–2018– 

0497 

This chemical was listed in the 2014 

TSCA Work Plan with a hazard score of 

3; an exposure score of 3; and a 

persistence and bioaccumulation score 

of 1. Data regarding the use of this 

chemical was reported to EPA in the 

2020 CDR. EPA also receives 

information annually on this chemical 

through the Toxics Release Inventory 

(TRI). Information is available from 

assessments conducted by the state of 

California, international organizations, 

and other countries. 

2. Acrylonitrile, CAS RN 107–13–1, 

Docket ID No.: EPA–HQ–OPPT–2018– 

0449 

This chemical was listed in the 2014 

TSCA Work Plan with a hazard score of 

3; an exposure score of 3; and a 

persistence and bioaccumulation score 

of 1. Data regarding the use of this 

chemical was reported to EPA in the 

2020 CDR. EPA also receives 

information annually on this chemical 

through the TRI. Information is 

available from assessments conducted 

by other federal agencies, the state of 

California, international organizations, 

and other countries. 

3. Benzenamine, CAS RN 62–53–3, 

Docket ID No.: EPA–HQ–OPPT–2018– 

0474 

This chemical was listed in the 2014 

TSCA Work Plan with a hazard score of 

3; an exposure score of 3; and a 

persistence and bioaccumulation score 

of 1. Data regarding the use of this 

chemical was reported to EPA in the 

2020 CDR. EPA also receives 

information annually on this chemical 

through the TRI. Information is 

available from assessments conducted 

by the Center for Disease Control (CDC), 

the state of California, international 

organizations, and other countries. 

4. Vinyl Chloride, CAS RN 75–01–4, 

Docket ID No.: EPA–HQ–OPPT–2018– 

0448 

This chemical was listed in the 2014 

TSCA Work Plan with a hazard score of 

3; an exposure score of 3; and a 

persistence and bioaccumulation score 

of 2. Data regarding the use of this 

chemical was reported to EPA in the 

2020 CDR. EPA also receives 

information annually on this chemical 

through the TRI. Information is 

available from assessments conducted 

by other federal agencies, the state of 

California, international organizations, 

and other countries. 

5. 4,4′-Methylene bis(2-chloroaniline) 

(MBOCA), CAS RN 101–14–4, Docket ID 

No.: EPA–HQ–OPPT–2023–0464 

This chemical was listed in the 2014 

TSCA Work Plan with a hazard score of 

3; an exposure score of 2; and a 

persistence and bioaccumulation score 

of 2. Data regarding the use of this 

chemical was reported to EPA in the 

2020 CDR. EPA also receives 

information annually on this chemical 

through the TRI. Information is 

available from assessments conducted 

by other federal agencies, the state of 

California, international organizations, 

and other countries. 

IV. Relevant Information 

A. What additional information is 

relevant to the five candidate chemical 

substances for which EPA is initiating 

prioritization? 

Through this initiation of 

prioritization for chemical substances, 

EPA is providing a 90-day comment 

period as required by the statute (TSCA 

section 6(b)(1)(C)(i)) and implementing 

regulations (40 CFR 702.7(d)), and 

requests that interested persons 

voluntarily submit relevant information. 

Relevant information might include, but 

is not limited to, information that may 

inform the screening review conducted 

pursuant to 40 CFR 702.9(a), consistent 

with the scientific standard of TSCA 

section 26(h), about the following 

criteria and considerations: 

• The chemical substance’s hazard 

and exposure potential; 

• The chemical substance’s 

persistence and bioaccumulation; 

• Potentially exposed or susceptible 

subpopulations which the submitter 

believes are relevant to the 

prioritization; 

• Whether there is any storage of the 

chemical substance near significant 

sources of drinking water, including the 

storage facility location and the nearby 

drinking water source(s); 

• The chemical substance’s 

conditions of use or significant changes 

in conditions of use, including 

information regarding trade names; 

• The chemical substance’s 

production volume or significant 

changes in production volume; and 

• Any other information relevant to 

the potential risks of the chemical 

substance that might be relevant to the 


khammond on DSKJM1Z7X2PROD with NOTICES
87426 Federal Register / Vol. 88, No. 241 / Monday, December 18, 2023 / Notices 

1 See 12 CFR 217.402, 217.404. 

2 Method 2 uses similar inputs to those used in 

method 1, but replaces the substitutability category 

with a measure of a firm’s use of short-term 

wholesale funding. In addition, method 2 is 

calibrated differently from method 1. See 12 CFR 

217.405. 

3 The data used by the Board are available on the 

BCBS website at https://www.bis.org/bcbs/gsib/

denominators.htm. 

4 12 CFR 217.404(b)(1)(i)(B); see also 80 FR 

49082, 49086–87 (August 14, 2015). In addition, the 

Board maintains the GSIB Framework 

Denominators on its website, available at https:// 

www.federalreserve.gov/supervisionreg/basel/

denominators.htm. 

designation of the chemical substance’s 

priority for risk evaluation. If the 

information is publicly available, 

citations are sufficient (including, but 

not limited to: title, author, date of 

publication, publication source), and 

the submission does not need to include 

copies of the information. 

If the information is publicly 

available, citations are sufficient 

(including, but not limited to: Title, 

author, date of publication, publication 

source), and the submission does not 

need to include copies of the 

information. 

B. What information is relevant to 10 

additional chemical substances that 

EPA considered for the current round of 

prioritization? 

During the pre-prioritization process, 

EPA met with federal partners, industry, 

environmental organizations, labor 

organizations, state and local 

governments, and tribes to discuss the 

prioritization process and presented a 

list of 15 chemical substances that EPA 

was considering for prioritization. EPA 

took feedback from these discussions 

into consideration when selecting the 

five chemicals for prioritization listed in 

Unit III.B. Interested persons may 

submit relevant information on the 

following chemical substances that are 

not currently undergoing prioritization 

by using Docket ID No. EPA–HQ– 

OPPT–2023–0606. 

• 4-tert-Octylphenol(4-(1,1,3,3- 

Tetramethylbutyl)-phenol), CAS RN 

140–66–9; 

• Benzene, CAS RN 71–43–2; 

• Bisphenol A, CAS RN 80–05–7; 

• Ethylbenzene, CAS RN 100–41–4; 

• Napthalene, CAS RN 91–20–3; 

• Styrene, CAS RN 100–42–5; 

• Tribromomethane, CAS RN 75–25– 

2; 

• Triglycidyl isocyanurate, CAS RN 

2451–62–9; 

• Hydrogen fluoride, CAS RN 7664– 

39–3; and 

• N-(1,3-Dimethylbutyl)-N′-phenyl-pphenylenediamine, CAS RN 793–24–8. 

C. How will confidential business 

information be protected? 

A person seeking to protect from 

disclosure as ‘‘confidential business 

information’’ any information that 

person submits under TSCA must assert 

and substantiate a claim for protection 

from disclosure concurrent with 

submission of the information in 

accordance with the requirements of 

TSCA section 14 and 40 CFR 703, with 

limited exceptions provided in the 

statute. TSCA section 14(b) limits 

confidentiality protections for health 

and safety studies and information from 

such studies, however, and while EPA 

considers confidential business 

information when conducting its review 

under 40 CFR 702.9(a), the Agency 

encourages submitters to minimize 

claims for protection from disclosure 

wherever possible to maximize 

transparency in EPA’s screening review. 

More information on asserting and 

submitting confidential business 

information claims under TSCA can be 

found at 40 CFR 703 and https://

www.epa.gov/tsca-cbi. 

Authority: 15 U.S.C. 2601 et seq. 

Dated: December 12, 2023. 

Michal Freedhoff, 

Assistant Administrator, Office of Chemical 

Safety and Pollution Prevention. 

[FR Doc. 2023–27641 Filed 12–15–23; 8:45 am] 

BILLING CODE 6560–50–P 

FEDERAL RESERVE SYSTEM 

[Docket No. OP–1825] 

Regulation Q; Regulatory Capital 

Rules: Risk-Based Capital Surcharges 

for Global Systemically Important Bank 

Holding Companies 

AGENCY: Board of Governors of the 

Federal Reserve System (Board). 

ACTION: Notice. 

SUMMARY: The Board is providing notice 

of the 2023 aggregate global indicator 

amounts, as required under the Board’s 

rule regarding risk-based capital 

surcharges for global systemically 

important bank holding companies 

(GSIB surcharge rule). 

DATES: The 2023 aggregate global 

indicator amounts are effective 

December 18, 2023. 

FOR FURTHER INFORMATION CONTACT: 

Anna Lee Hewko, Associate Director, 

(202) 530–6260, Brian Chernoff, 

Manager, (202) 452–2952, Sarah 

Dunning, Financial Institution Policy 

Analyst III, (202) 475–6660, or 

Alexander Jiron, Senior Financial 

Institution Policy Analyst I, (202) 450– 

7350, Division of Supervision and 

Regulation; or Jay Schwarz, Assistant 

General Counsel, (202) 452–2970, Mark 

Buresh, Special Counsel, (202) 452– 

5270, Jonah Kind, Senior Counsel, (202) 

452–2045, or David Imhoff, Senior 

Attorney (202) 452–2249, Legal 

Division. Board of Governors of the 

Federal Reserve System, 20th and C, 

NW, Washington, DC 20551. For users 

of Telecommunications Device for the 

Deaf (TDD) and TTY–TRS, please call 

711 from any telephone, anywhere in 

the United States. 

SUPPLEMENTARY INFORMATION: The 

Board’s GSIB surcharge rule establishes 

a methodology to identify global 

systemically important bank holding 

companies in the United States (GSIBs) 

based on indicators that are correlated 

with systemic importance.1 Under the 

GSIB surcharge rule, a firm must 

calculate its GSIB score using a specific 

formula (method 1). Method 1 uses five 

equally weighted categories that are 

correlated with systemic importance— 

size, interconnectedness, crossjurisdictional activity, substitutability, 

and complexity—and subdivided into 

twelve systemic indicators. 

A firm divides its own measure of 

each systemic indicator by an aggregate 

global indicator amount. A firm’s 

method 1 score is the sum of its 

weighted systemic indicator scores 

expressed in basis points. A firm that 

calculates a method 1 score of 130 basis 

points or more is identified as a GSIB 

under the GSIB surcharge rule. The 

GSIB surcharge for a firm is the higher 

of the GSIB surcharge determined under 

method 1 and a second method, method 

2, which is calculated based on 

measures of size, interconnectedness, 

cross-jurisdictional activity, complexity, 

and the firm’s reliance on short-term 

wholesale funding.2

The aggregate global indicator 

amounts used in the score calculation 

under method 1 are based on data 

collected by the Basel Committee on 

Banking Supervision (BCBS). The BCBS 

amounts are determined based on the 

sum of the systemic indicator amounts 

as reported by the 75 largest U.S. and 

foreign banking organizations as 

measured by the BCBS, and any other 

banking organization that the BCBS 

includes in its sample total for that year. 

The BCBS publicly releases these 

amounts, denominated in euros, each 

year.3 Pursuant to the GSIB surcharge 

rule, the Board publishes the aggregate 

global indicator amounts each year as 

denominated in U.S. dollars using the 

euro-dollar exchange rate provided by 

the BCBS.4 Specifically, to determine 

the 2023 aggregate global indicator 

amounts, the Board uses the year-end 

2022 euro-denominated indicator 


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